Global Manufacturing Outlook 2015: Australian perspective

Global Manufacturing Outlook 2015: Australia

In a post-mining boom period, Australia is looking to reposition itself through new pathways to economic growth. Investment in, and strategic restoration of, the lagging manufacturing sector is under way, amid political debate.

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Looking to help Australian manufacturing remain competitive globally, government and non-government entities are keen to identify growth sub-sectors that can participate in the global supply chain, such as ‘smart specialisation’ and value-added business models, driven by innovation and R&D.

To be successful over the next decade, Australian manufacturers will need to implement these actions on the export market, rather than domestically.

Key insights

Enhance their customer focus to better understand current and future needs that can result in market opportunities.

Think more broadly on how they can participate in global value chains through the creation of value-added products or services.

Look to raise their prices for their premium and niche products.

Target and invest in innovation and long-term R&D.

Collaborate with government, businesses, high tech accelerators, researchers and universities to commercialise their ideas and seek export growth.